News of company
US Treasury extends American investors' exit from En +, Rusal and GAZ Group assets
The US Treasury has extended another two months, during which American investors must sell the securities of Russian companies En +, Rusal and the GAZ group, which were subject to sanctions. This was reported in an updated document by the Department of Foreign Assets Control (OFAC) of the US Treasury.
Under General License 13B, investors must sell shares before August 5.
According to the previous general license 13A, the investor was instructed to withdraw from the securities En +, Rusal and the GAZ group by June 6.
On May 22, the U.S. Treasury Department issued a general license, which extends the completion date of transactions with the GAZ group for American individuals and legal entities until October 23, 2018. The ministry explained that the sanctions on GAZ could be lifted if Oleg Deripaska abandoned control of the company. A similar mechanism to remove restrictions on US power was offered to Rusal.
On April 6, the US Treasury Department imposed sanctions against 24 Russian individuals and 14 legal entities. The list, in particular, included businessman Oleg Deripaska and his companies - En + Group, GAZ Group, Basic Element, UC Rusal.
Source: RNS news agency